To Be Negotiable, an Instrument Must Be Payable in a Certain

question 65

True/False

To be negotiable, an instrument must be payable in a certain amount.

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Definitions:

Shortage

A situation where demand exceeds supply, resulting in insufficient availability of a product or service.

Permanent Shortage

A sustained situation where the demand for a good or service persistently exceeds its supply, often due to fixed or limited quantities.

Price System

Mechanism that allocates resources, goods, and services based on supply and demand.

Price Ceilings

Price ceilings are regulatory measures that set a maximum price that can be charged for certain goods or services, with the goal of ensuring affordability.